The present invention relates to novel tricyclic compounds that possess antiinflammatory and anti-hyperproliferative activity. Other tricyclic and analogous antiinflammatory agents have been disclosed, i.e. U.S. Pat. No. 4, 680, 298 published PCT application 86/01269 and U.S. 4, 492, 702 (corresponding to European Patent application (0092786).